GoSBA’s 50 Best New York City SBA Lenders In 2020

The U.S. Small Business Administration (SBA) New York District Office serves New York City, Long Island, and the counties of Duchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester, which have a combined population base of nearly 18 million residents. If this area were a state, it would rank as the fifth most populous state in the Union and comparing New York’s economy to other countries, New York would be the 15th largest economy in the world. This multi-county service area is a major U.S shipping port and manufacturing center and is known as the world’s premier financial center. There is a diverse economic base with trade, tourism, entertainment, communication, health care, technology, banking and financial services. The Port Authority of New York & New Jersey is the third busiest in the country, and New York remains a powerful force in manufacturing output.

 

Finding the best and cheapest business loans has always been a hassle, so we make it easier by comparing all the best SBA lenders in the New York District for you. After reading our analysis, please click apply now and we will able to match you with the best SBA loan providers in the New York District.

 

GoSBA Loans is proud to announce the 2020, top 50 SBA banks providing SBA loans in the New York District. The New York District SBA loan providers financed 1,802 businesses valued at $619.1 million for the FY of 2019. New York SBA loan funding also increased their loan opportunities for women-owned businesses.

 

One of the biggest challenges that small businesses face is access to affordable financing. Top lenders signing SBA-backed loans in New York include some of the larger banks like JPMorgan Chase and TD Bank, as well as some smaller players, including New Bank and Independence Bank. Unfortunately, these banks have some of the strictest underwriting criteria. Most small businesses are better off speaking with smaller and more aggressive SBA lenders in New York. Applicants that apply for an SBA loan with GoSBA loans benefit from automatic circulation of their loan application to 33 of the 100 top New York SBA lenders. Here is our GoSBA’s official ranking for the 50 Best New York City SBA Lenders in 2020.

 

RANK BANK LOANS FUNDED VOLUME FUNDED ($)
1 NewBank 57 $71,983,000
2 JPMorgan Chase Bank 254 $44,067,500
3 TD Bank 509 $43,552,900
4 FinWise Bank 34 $33,396,000
5 Noah Bank 22 $30,782,000
6 New Millennium Bank 35 $26,210,000
7 Newtek Small Business Finance, Inc. 44 $23,002,100
8 BNB Bank 16 $18,850,000
9 Live Oak Banking Company 11 $18,303,000
10 Woori America Bank 14 $16,770,000
11 Savoy Bank 12 $16,761,000
12 First Home Bank 58 $15,692,400
13 KeyBank National Association 27 $15,612,900
14 Manufacturers and Traders Trust Company 153 $13,485,400
15 Santander Bank, National Association 107 $12,733,200
16 Dime Community Bank 9 $11,920,000
17 Metro City Bank 9 $10,363,000
18 Radius Bank 4 $10,313,200
19 Fountainhead SBF LLC 2 $8,567,600
20 Cross River Bank 10 $8,453,500
21 Berkshire Bank 7 $8,412,000
22 Bank of Hope 23 $7,936,000
23 Loan Source Incorporated 3 $7,650,000
24 First Bank 8 $7,561,100
25 Byline Bank 4 $6,362,000
26 Readycap Lending, LLC 5 $5,195,000
27 T Bank, National Association 1 $5,000,000
28 Ameris Bank 2 $4,895,000
29 Wells Fargo Bank, National Association 34 $4,560,000
30 Independence Bank 32 $4,550,000
31 Celtic Bank Corporation 14 $4,547,000
32 New York Business Development Corporation 7 $4,172,200
33 BankUnited, National Association 2 $4,000,000
34 Citizens Bank 3 $3,939,000
35 1st Constitution Bank 7 $3,930,000
36 Shinhan Bank America 4 $3,885,000
37 United Community Bank 4 $3,810,000
38 Grow America Fund, Incorporated 9 $3,336,100
39 IncredibleBank 1 $3,325,000
40 Pacific City Bank 3 $3,215,000
41 Five Star Bank 12 $3,185,000
42 Unity Bank 2 $3,136,000
43 Capital One, National Association 8 $2,992,300
44 Centerstone SBA Lending, Inc. 2 $2,958,000
45 Stearns Bank National Association 11 $2,826,700
46 First Savings Bank 3 $2,796,000
47 Harvest Small Business Finance, LLC 2 $2,720,000
48 Provident Bank 2 $2,600,000
49 Ulster Savings Bank 4 $2,472,000
50 Bank of America, National Association 4 $2,441,100

Sounds great? Click on apply now and we’ll match you with the best SBA loan providers in New York City.

Ishan Jetley

Ishan Jetley is the founder and managing director of GoSBALoans. Ishan has helped fund more than 400 businesses. He has helped businesses raise $150 million in SBA working capital, inventory and commercial property loans.